The open-source operating system of the venture industry. The National Venture Capital Association (NVCA) provides the standard templates for Term Sheets, Stock Purchase Agreements, and Voting Rights. These docs are 'Market Standard'—neutral baselines accepted by both founders and investors. The archive explains that using these templates significantly reduces legal fees and 'Negotiation Friction', as lawyers only need to argue over the variables (valuation, option pool), not the boilerplate.

Do not reinvent the wheel. Using NVCA docs signals sophistication. If an investor presents a term sheet that deviates significantly from the NVCA model, it is a massive red flag. This archive empowers founders to demand 'Standard Terms' and avoid predatory custom clauses.